CoinBase CEO Sends a Major Alert for Traders- Insider Trading Is Illegal!!!

CoinBase is one of the most accepted platforms among the crypto com when it comes to learning about accurate trading guidelines. Brian Armstrong from CoinBase has staged a huge insider trading red flag today. According to the CoinBase CEO, insider trading has increased manifold due to the abrupt rise of the popularity of the memecoins in the crypto market.  

There are plenty of examples in front of us. The recent LIBRA coin scandal can be an eye-opener in that direction. The Argentine President was associated with insider trading based on that coin.  

Brian said yesterday that he is never against meme coins or their rise. However, he wants the market to be a bit more cautious. He especially wants to flag those who are trading mostly on insider information and scamming a plethora of smaller retail investors.  

In another recent market move, Hayden Davis, the mind behind market manipulation of many political coins, admitted to insider trading involvement. He also helped a lot of whales with sniper wallets. The controversial $LIBRA was launched by him.  

He gave this disclosure on Saturday. Promptly, the CoinBase CEO came up with his statutory warning. He added- meme coins still deserve their flowers. It’s undeniable that memecoins have a great role to play in the out-and-out crypto revolution that’s happening. 

Still, it’s hard to forget what Hayden said in his last speech. He promoted that meme coins are an insider’ game. There are rare chances that, without insider help, a meme coin could see organic success. It’s just like an unregulated casino, as he says.  

Contribution of CoinBase 

The CEO said that CoinBase is doing a lot to overcome the insider trading challenges. To keep the market organic, the token must be firstly legal. If that’s so, all customers should get an equal chance to trade for it at will. However, he seemed utterly dissatisfied with the way some coins have promoted insider training with the hope of short-term gains.  

The last segment of Brian’s today’s speech is for everyone- “Don’t break the code just like that! Don’t try to be too rich, too soon.”